I have some experience drawing multi-gigabyte satellite and chart imagery. Working with imagery around 55MB should probably work okay even without trying to optimize it too much. You haven't really given enough detail to recommend one alternative over the other, so I will give my opinion on the pros and cons.
Using 2D windows APIs will be the simplest to implement and should always be fast enough if you don't need to rotate and simply want to display an image and zoom and pan around. If you treat it as one large image the performance will not be as good when you zoom out if you are drawing with halftoning to give a nice smooth image. This is because it will effectively have to read all 55mb of image every time it draws.
To get around this performance issue you can make multiple bitmaps, effectively mip-mapping your image. As you zoom out you can pick the reduced resolution image closest to the resolution you are trying to draw . If you are not familiar with mip-mapping here is a Wikipedia link:
http://en.wikipedia.org/wiki/Mipmap
Implementing it with DirectX will be 10x as difficult. Different graphics hardware has different maximum texture sizes. Most likely you will need to break your image up in to multiple textures to draw and you will also have to keep track of render states, viewing matrices, etc.
However, if you do use DirectX, you can implement lots of real-time photo adjustments You can do real-time rotation by simply adjusting view matrices. You can do real-time contrast, brightness, gamma, and sharpness easily in a pixel shader.
There are two other API's I might suggest. If you are willing to limit yourself to Vista or later then Direct2D would be a little simpler than Direct3D. Also if you ever will need to implement it on a non-windows platform I would suggest using OpenGL instead. My current project is in Direct3D because a few years ago when we started it OpenGL was falling behind and I didn't forsee the popularity of Android devices. I now wish we had used OpenGL instead.